Swiss watch exports are once again showing a negative trend. After an increase of 7,2% in October, November saw a decline of 3,8% compared to the same month of the previous year, for a total value of 2,4 billion francs (around 2,6 billion euros at current exchange rates). The cumulative figure for the year now shows a decline of 2,7%, reaching 23,9 billion francs (equivalent to 25,6 billion euros).
Among the categories, steel watches recorded the greatest decline, with a contraction of 5,8%. Models in precious metals also suffered a slight decline of 2,2%, while bimetallic watches remained almost unchanged (-0,6%). The decline involved all price ranges: timepieces with a value of less than 500 francs (536 euros) lost 6,1%, while the range between 500 and 3000 francs (536-3200 euros) suffered a more marked decline of 14,9%. Luxury watches, with a price above 3000 francs (3200 euros), showed greater resilience, recording a slight decline of 0,9%.
Geographically, the United States stood out as the only market in the top ten to record growth, at 4,7%. Japan contained the decline to 2,5%, while more critical results emerged in Hong Kong (-18,8%) and China (-27,0%). The United Kingdom (-8,3%), Singapore (-6,1%) and the United Arab Emirates (-4,9%) also showed significant decreases. However, smaller markets showed positive dynamics: South Korea recorded an increase of 21,7%, followed by Spain (+33,5%) and India (+59,7%).